At today's announced new jobs rate (96,000), it will take until 2025 for us to get back all the jobs we lost and cover all the new people joining the workforce:
- For every 1 job created last month, 4 people stopped looking for work.
- If the same number of people who were working or looking for work in 2009 are counted today, the unemployment rate would be 11.2% today.
- If we used last months participation number, it would be 8.4% today.
- We're on track to have less jobs created this year than last year (139,000 per month vs. an average monthly gain of 153,000 in 2011). *hint* George Bush wasn't President in 2011.
This is an atrocious jobs record. No two ways about it. If his plan for the last four years hasn't worked - how in the hell do we honestly take him at his word his plan for the next four years will?